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Tuesday preview: Next, GKN and BP to report earnings

Next may on Tuesday report second quarter sales growth towards the upper end of guidance, according to estimates by Numis.

The UK retailer reported a 10.8% increase in Brand sales in the first 13 weeks of the year, with retail up 8.8% and Directory up 13.7%.

"This was comfortably ahead of the +4% to +8% Brand sales guidance provided at the preliminary stage and, notwithstanding the tougher second quarter comparatives, the company raised its full year sales guidance to +5.5% to +9.5%," Numis said.

"The first quarter performance benefitted from much better weather and second quarter comps are also slightly tougher."

GKN also reports its interim results and is expected to report a 14% rise in pre-tax profit, analysts predict, as an improving European market assist the automotive division.

The expiration of the Abu Dhabi onshore concession in January this year and planned turnaround of higher-margin upstream projects in the North Sea and the Gulf of Mexico may hurt BP's upstream earnings.

In downstream, higher crude distillation capacity may provide a boost to profits.

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